Housebuilder on track to hit profit goal but sales have slowed in recent weeks

The chief executive of Crest Nicholson has urged the government to press on with planning reforms, in a trading update this morning.

peter truscott

Peter Truscott, chief executive of Crest Nicholson

Peter Truscott, chief executive of the housebuilding giant, said he hopes that “repeated commitments to reform the planning system will be delivered in the near term”.

He added: “These changes should focus on releasing more land which can be immediately developed, helping the UK fix its longstanding shortage of housing stock.”

Crest Nicholson also said it is on track for its adjusted profit in the year to be between £135m and £140m as previously expected.

>>See also: Crest Nicholson posts £52m half-year loss due to cladding pledge costs

>>See also: Autumn Statement: social housing rent cap reportedly to be set at 7%

Its forward sales stood at 2,038 units as of 11 November down year-on-year from 2,502 in the same period last year.

The firm also said it had postponed opening a third new operating division, having opened ones in Yorkshire and East Anglia, “until a more stable environment returns”.